Vietnam manufacturing PMI rises to 52.9 in September

TOKYO -- The Nikkei Vietnam Manufacturing Purchasing Managers' Index, or PMI, rose to a 16-month high of 52.9 in September from 52.2 in August.

A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

"The standout number from the latest Vietnam PMI survey was the fastest rise in employment for five and-a-half years as firms responded to sustained new order growth," Andrew Harker from IHS Markit, which compiles the survey, said. "With growth solid across the third quarter as a whole, the manufacturing sector looks set to help drive GDP growth in 2016," he added.